Reviewing your commercial lease could allow you to operate your business more effectively.
During the Covid-19 pandemic, many businesses had to “pivot” such as restaurants and pubs offering takeaways. Other businesses reduced their office space as an increased number of employees now work from home.
This allowed many businesses to not only survive but thrive. By having your lease reviewed by a property lawyer, you can find out if you could do the same.
Attwells can review your lease for £549 plus VAT. We aim to review your lease within 3 to 4 working days, offering recommendations in a formal letter. This will give you the option to instruct Attwells to negotiate new terms with your landlord on your behalf, or for you to pursue the matter further.
What do Attwells look for when undertaking a commercial lease review?
Room to Grow: Your lawyer will review your lease to see if the premises you lease allows your business enough room to grow.
Reviewing or having a three or five-year business plan will help you consider all possible requirements. Your solicitors will be able to help you factor these into any agreement.
Longevity: Typically, commercial leases are five or more years. However, due to Covid-19, this may be no longer appealing. Your lawyer will review your lease for sub-letting clauses, possible early termination loopholes, or payment holidays.
User Clause: Depending on your business type or the sector your business operates in you may require some flexibility in the services you can offer. A user clause could prevent you from diversifying your business. Your lawyer will see if such a clause is within your lease and suggest ways you could overcome it. Alternatively, your lawyer can also confirm one does not exist, so you could freely change your business operations.